Sunday, March 22, 2009

One of the things that stick out to me about this current economic crisis is how there are so many bad policies and practices that either help lead up to this crisis or risk making it worst.

another of these type of events is a story posted on the Boston Globe a few weeks ago that says that form 1996 to 2006 congress didn't push for banks to pay their FDIC insurance premiums, due to the banks instances and the FDIC's objections.

why because at the time the FDIC seemed to have so much money and their where so few bank failures, that congress seemed to think that as long as the FDIC seemed to have a lot of cash things would be safe.

Now because of the fact that when we where doing good economically banks didn't put their insurance bill, now if they risk going under, the FDIC may not have enough money to save them (depending on the banks size)